OTC vs Real Market Hours: What Is the Difference?
Some assets trade only on weekdays, while OTC assets are open 24/7. Learn what OTC means at Bitvyl, real forex hours in your time zone and how to choose.
In this article
On the Bitvyl asset list, you will see many assets in two versions. For example, you may see EUR/USD and EUR/USD OTC. They look similar on the chart, but they are not the same thing. They have different hours and a different source of quotes.
This guide explains what OTC means at Bitvyl, when real currency markets are open in UTC and in some local time zones, how the two types of assets behave, and how to choose between them. It ends with some precautions that apply to both.
What OTC means at Bitvyl
OTC stands for "over the counter". In general finance, it means trading that does not happen on a public exchange.
At Bitvyl, OTC quotes are generated by Bitvyl from market references. They are not prices traded on an exchange. OTC assets are available 24 hours a day, 7 days a week, including weekends. This is useful because real currency markets close on weekends.
Here are the main points to remember:
- OTC assets are clearly marked with "OTC" in their name.
- OTC quotes are specific to the platform. You may not see the same price on other charts.
- In fixed-time trades, Bitvyl is the counterparty to clients' trades. This applies to OTC and to real-market assets.
Real market hours
Real-market currency pairs follow the hours of the global forex market. At Bitvyl, they trade from Sunday 21:00 UTC to Friday 21:00 UTC. Outside those hours, you can trade the OTC version of the pair. Real-market crypto assets trade 24/7, because crypto markets do not close.
UTC is a world reference time. Your local time depends on your time zone. Here are some examples:
| Location | Time zone | Real forex market opens | Real forex market closes |
|---|---|---|---|
| UTC reference | UTC+0 | Sunday 21:00 | Friday 21:00 |
| Lagos | UTC+1 | Sunday 22:00 | Friday 22:00 |
| Nairobi | UTC+3 | Monday 00:00 | Saturday 00:00 |
| Manila | UTC+8 | Monday 05:00 | Saturday 05:00 |
So a trader in Manila can trade real-market currency pairs from early Monday morning until early Saturday morning. A trader in Lagos can start on Sunday night and trade until Friday night.
Activity changes during the day
Even when the forex market is open, it is not equally active all day. Activity is usually higher when major financial centres are working. In approximate terms:
- Asian session: roughly 00:00 to 09:00 UTC.
- European session: roughly 07:00 to 16:00 UTC.
- American session: roughly 12:00 to 21:00 UTC.
When two sessions overlap, price movement is often stronger. Late in the American session and early in the Asian session, many pairs move more slowly. These times are approximate and can shift during the year.
How OTC and real-market assets behave
The two types of assets can look similar on a chart, but there are important differences:
| Feature | Real-market asset | OTC asset |
|---|---|---|
| Source of quotes | Follows the live market | Generated by Bitvyl from market references |
| Hours for currency pairs | Sunday 21:00 to Friday 21:00 UTC | 24/7, including weekends |
| Economic news | The live market reacts to news and data releases | Quotes are not exchange prices, so news analysis may not apply in the same way |
| Comparing with other charts | You can compare with other sources of market data | Prices may differ from other sources |
| Payout | Varies by asset and time of day | Varies by asset and time of day |
In both cases, the payout is shown before you open the trade and is locked when you open it. Always check it, because it can be different for the real-market and OTC versions of the same asset.
How to choose between OTC and real market
There is no single correct answer. The best choice depends on your schedule and your method. Ask yourself these questions:
- When can you trade? If you work during the week and can only trade on weekends, OTC assets may be your only choice for currency pairs. If you are free on weekdays, you can use both.
- Do you use economic news? If your method depends on news, an economic calendar or global market sessions, real-market assets fit better.
- Do you use only technical analysis? If you trade only from the chart, with candles and indicators, you can use either type. But test your method on each one separately.
- Which one do you understand better? Choose the type you have tested more. Do not switch between them without a reason.
Keep separate results for OTC and real-market trades in your journal. A method can work on one type and fail on the other. Mixed results hide this.
Precautions for both types
Whatever you choose, these precautions help you avoid simple errors:
- Check the asset name before you open a trade. It is easy to click the OTC version by mistake, or the opposite.
- Do not assume OTC follows another chart. Use the Bitvyl chart for the asset you trade, not a chart from another source.
- Check the payout each time. It changes by asset and during the day.
- Do not trade non-stop because the market is open 24/7. OTC is always available, but you are not. Tiredness leads to bad decisions. Set clear trading hours and a daily limit, as explained in our guide on risk management and position sizing.
- Be careful near the close of the real forex week. Before you open a trade late on Friday, check that the asset is open and the duration you want is available.
- Read the chart first. Look at a few minutes of price action before trading a new asset. Our guide on how to read candlestick charts can help.
- Remember the risk. OTC or real market, every trade can lose the full amount you invest.
Weekend trading can also affect your mind. Many people trade on weekends after a stressful week, or to recover a loss from Friday. Both situations are dangerous. Read more about this in our article on trading psychology.
Key takeaways
- At Bitvyl, OTC quotes are generated by Bitvyl from market references. They are not exchange-traded and are available 24/7.
- Real-market currency pairs trade from Sunday 21:00 to Friday 21:00 UTC. Real-market crypto trades 24/7.
- Convert UTC to your local time. For example, Manila is UTC+8 and Lagos is UTC+1.
- Choose based on your schedule and method, and test each type separately.
- Check the asset name and the payout before every trade, and keep fixed trading hours.
The easiest way to see the differences is to watch both types side by side. Bitvyl lets you open up to 4 charts at once. In your free demo account, open a real-market pair and its OTC version, and compare how they move during the week and on the weekend. If you are new to this type of trading, start with our guide on what Fixed Time Trading is.
